Maelstrom is saying that Ron, recognized on-line as “macgyver13,” is the fourth recipient of the Maelstrom Bitcoin Grant Program, per a press launch despatched to Bitcoin Journal. Ron can be engaged on Silent Funds, as proposed in Bitcoin Improvement Proposal 352.
“We’re excited to be financially supporting Ron, in his mission on integrating Silent Funds into Bitcoin wallets,” stated the CFO of Maelstrom Arthur Hayes. “Many retailers and customers wish to present/show a single static handle that doesn’t change, which is a vital, legitimate and easy use case. With Silent Funds this may nonetheless be finished, whereas on-chain handle re-use is prevented. Deal with re-use is a goldmine for the surveillance organisations, and at Maelstrom, we wish to assist put a cease to it.”
In September 2023, Silent Funds was proposed by Josie Baker and Ruben Somsen. It permits folks to create a single, static handle to share with associates, use for donations, or publish for suggestions with out sacrificing privateness. This eliminates handle reuse, a key technique utilized by surveillance corporations to trace person habits on the blockchain.
“With many software program initiatives, and maybe even extra so in Bitcoin, taking an thought from a proposal to a completely adopted resolution is the toughest half,” Josie stated. “Within the quick period of time I’ve been working with Ron, I’ve been thrilled on the progress we’ve made and I’m excited to work with him over the subsequent 12 months on Silent Funds adoption with the objective of creating an intuitive, seamless person expertise whereas additionally defending person’s monetary privateness.”
Bitcoin privateness is determined by utilizing new addresses, which regularly requires sender to receiver interplay. Current static handle strategies use notifications that improve prices and leak metadata. Silent Funds avoids each interplay and notifications however requires wallets to scan the blockchain. Multi-party enter use just isn’t but confirmed safe.
Silent Funds goal to implement:
- Zero transaction value overhead
- No linkability between funds and static addresses
- No want for sender to receiver interplay
- Compatibility with privateness instruments and trendy pockets options
“My major focus can be coordinating growth and testing efforts inside the rising group devoted to integrating Silent Funds into desktop and cell Bitcoin wallets,” acknowledged the brand new grantee of Maelstrom Ron. “By advancing Silent Funds alongside BOLT12 and BIP-353, we goal to reinforce privateness and simplify the person expertise, paving the best way for broader adoption of Bitcoin as a fee resolution.”